This Crypto Exploded After Bitcoin Miner Marathon Digital Said It Was Mining $16M Worth Of It To Diversify Away From King Crypto
Portfolio Pulse from Aniket Verma
Kaspa (KAS) surged 11% after Marathon Digital Holdings (MARA) announced it was mining the cryptocurrency to diversify from Bitcoin. Marathon has mined $16.74 million worth of KAS, amid challenging conditions for Bitcoin miners post-halving.
June 27, 2024 | 5:32 am
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Marathon Digital Holdings announced it is mining Kaspa to diversify from Bitcoin, leading to a 0.62% increase in its stock price. The company has mined $16.74 million worth of KAS amid challenging conditions for Bitcoin miners.
Marathon Digital's move to mine Kaspa is a strategic diversification from Bitcoin, which has faced reduced block payouts post-halving. This diversification could stabilize and potentially increase Marathon's revenue streams, positively impacting its stock price.
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